Sembcorp Industries Q4 net profit down 85% on lower marine, utility contributions

Singapore

SEMBCORP Industries saw its fourth quarter net profit plunge 84.6 per cent to S$22.78 million on a lower contribution from its utilities business and a net loss from its marine division.

Earnings per share for the quarter ended Dec 31, 2017, was 0.62 Singapore cent compared to 7.71 Singapore cents a year ago. Turnover went up 4.8 per cent to S$2.12 billion, but was more than offset by a 40.9 per cent decline in gross profit to S$147.86 million.

Profit before tax fell 99.9 per cent to S$120 million after a 48.3 per cent surge in…